27th ASEAN Economic Community Council Meeting

The 27th ASEAN Economic Community Council Meeting was chaired by Cristina Aldeguer-Roque, representing the Philippines as ASEAN Chair for 2026. The meeting was attended by ASEAN Economic Ministers, the Deputy Secretary-General of ASEAN, and representatives from international organizations including the Asian Development Bank (ADB), the ASEAN+3 Macroeconomic Research Office (AMRO), and the Economic Research Institute for ASEAN and East Asia (ERIA).

Deputy Minister Phan Thi Thang attended the 27th ASEAN Economic Community Council Meeting.

At the meeting, ministers reviewed and discussed the global economic landscape as well as the region’s resilience in the face of emerging challenges. The meeting agreed that ASEAN should shift its focus from merely responding to external shocks toward building long-term strategic resilience. Delegates also commended the proactive role of the ASEAN Chair in steering adaptive policy proposals, particularly through the Special AECC Session on the Middle East situation held on April 30, which explored strategic solutions to mitigate risks of energy supply disruptions while ensuring energy and food security.

Based on an updated report presented by the Philippines, the meeting acknowledged progress in implementing the 19 Priority Economic Deliverables (PEDs) under the Philippines’ ASEAN Chairmanship in 2026. Notable achievements included efforts toward the substantial conclusion of negotiations for the ASEAN - Canada Free Trade Agreement (ACAFTA) and the signing of the ASEAN Digital Economy Framework Agreement (DEFA). Regarding ASEAN Economic Community-building efforts, the meeting noted that more than 87% of the ASEAN Economic Community (AEC) 2025 Blueprint had been completed and discussed the implementation of the AEC Strategic Plan 2026 - 2030 toward the ASEAN Community Vision 2045.

The 27th ASEAN Economic Community Council Meeting. 

The meeting also devoted significant attention to sustainable development and digital transformation agendas, including the ASEAN Strategy for Carbon Neutrality, the ASEAN Circular Economy Framework, the ASEAN Blue Economy Framework, the ASEAN Power Grid, and the Bandar Seri Begawan Roadmap on ASEAN Digital Transformation. Particular emphasis was placed on the progress of negotiations on the ASEAN Digital Economy Framework Agreement (DEFA), with the goal of concluding negotiations and signing the agreement in 2026 to strengthen regional competitiveness and further contribute to ASEAN’s economic growth.

The meeting took note of ongoing discussions concerning Timor-Leste’s fulfillment of obligations related to ASEAN economic agreements as part of its accession process toward full ASEAN membership. The meeting also discussed the elevation of the ASEAN-ADB partnership through the anticipated signing of a Memorandum of Understanding between ASEAN and ADB, featuring a proposed financial support package of up to USD 30 billion. The package is expected to support ASEAN in realizing the ASEAN Vision 2045, with a focus on strategic infrastructure projects such as the ASEAN Power Grid (APG), digital transformation, and capital market development.

At the meeting, Deputy Minister Phan Thi Thang highly appreciated the leadership role of the ASEAN Chair in proactively adapting to and responding to the fast-changing and increasingly complex developments in the global economic and trade environment. The Deputy Minister shared several policy recommendations and cooperation orientations that ASEAN member states could consider in order to strengthen the resilience of the regional economy against external impacts. She also emphasized that Vietnam stands ready to work closely with other ASEAN member states to translate shared commitments into concrete actions, enhance ASEAN’s economic resilience, and jointly steer the ASEAN community steadily through challenges and uncertainties while ensuring the timely fulfillment of the region’s 2026 priority economic deliverables.

The 27th ASEAN Economic Community Council Meeting concluded successfully on the morning of May 7, 2026, with the adoption of several important documents, including the Monitoring, Evaluation, Accountability and Learning (MEAL) Framework for overseeing and assessing the implementation of activities under the ASEAN Economic Community Strategic Plan 2026 - 2030, the Roadmap for Streamlining AEC Meetings to improve the operational efficiency of the economic pillar, and the Report of the 27th ASEAN Economic Community Council Meeting. These outcomes completed the preparations of the economic pillar for the 48th ASEAN Summit, scheduled to take place on May 8, 2026.

Deputy Minister Phan Thi Thang also met with delegates attending the 27th ASEAN Economic Community Council Meeting.

On the sidelines of the meeting, and following a proposal from Singapore, Deputy Minister Phan Thi Thang held a bilateral meeting with Gan Kim Yong to discuss a range of bilateral and multilateral economic cooperation issues, including negotiations on the DEFA, the upgraded ASEAN Trade in Goods Agreement (ATIGA), and Singapore’s proposal for the ASEAN Green Economy Framework Agreement (GEFA).

Following the conclusion of AECC 27, Deputy Minister Phan Thi Thang continued accompanying the Prime Minister’s delegation to attend the 48th ASEAN Summit and participate in bilateral meetings between the Prime Minister and leaders of ASEAN member states, the ASEAN Secretary-General, and ADB representatives, with the aim of further strengthening bilateral and multilateral economic and trade cooperation in the coming period.